Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 15, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  0bp

I jumped the gun a bit yesterday, but I don’t like to gamble your money either.  Mortgage backed securities ended the day up 62bp, but they remain below their 200-day moving average, so I am still very cautious.

Yesterday, my trip got extended, so I will be on an airplane as the data starts rolling in, so I am going to keep my locking stance as a precaution.  Retail Sales is the big one for today and is due out around my departure time, so a delay would be good so I can keep you informed.  PPI is also due out today.

I will get you an update and any changes in my stance as soon as I can after returning to Miami.  In the meantime, if Retail Sales is dismal (just watch the headlines), chances are floating may be in order, but that would also depend on PPI not being too bad, at least to some extent.

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